Islamic Banking and Interest
We look at the topic of interest in the following articles and series:
Perhaps the most well-known differentiator between Islamic banking and conventional banking is the prohibition on interest.
Technically, it is Riba that is forbidden. I intend to write about Riba separately, as that is a fascinating topic.
However, for our purposes here, we can quite safely work on the assumption that interest is one kind of Riba, and thus, it is forbidden.
However, throughout my career, I have noticed it is impossible to take a look at most aspects of Islamic banking before you encounter interest, in one form another.
This series of articles will examine our relationship with interest.